GDP grew at a 2.3% pace in the fourth quarter, less than expected
1. Q4 GDP growth was 2.3%, lower than the expected 2.5%. 2. Consumer spending rose 4.2%, driving economic activity. 3. Inflation remains a concern despite easing from mid-2022 highs. 4. Private domestic investment dropped 5.6%, negatively impacting GDP. 5. Fed remains patient on cuts despite recent interest rate decrease.